Unlike traditional real estate notes is something that is easy to do from afar since you do not get access to the interior anyways so there is nothing you can physically inspect.You are correct that you will get $500-$600 a month in payments but also recognize its taxed at ordinary rates... 

Traditionally in the Black Community, in the past we were prevented from building wealth through multiple angles.

Explore traditional loans, hard money lenders and private investors to understand your financing options.

I used a traditional bank mortgage through US bank.

Hi Kim, Most traditional investor loans will require a minimal of 15-20% down payment. 

Depending on your office location, co-working spaces may open you up to more 'walk-in' business than any storefront or traditional office space.- Evaluate the best tech platforms to subscribe to. i.e. skiptracing, RE data sites, CRMs, etc.- Create Standard Operating Procedures (w/video) for every repetitive task on the admin, sales, and marketing sides of the business.

Ideally I would like to live off income from REI, as I cannot currently work in a traditional sense (ie, desk job). 

It is not regulated compared to your traditional conventional /FHA loans.

hey @Shaydon Childersmost responses are right, this will be challenging for traditional DSCR as they dont like gift of equity; and seller credits would be capped (usually at 2% of your purch price) and only allowable to be applied to closing costs. i have one lender (specifically for 1-4 unit investment properties) which will allow for up-to 90% CLTV... and they are okay with seller financing so long as the seller is in 2nd lien position, allowing them in first lien position. they would max at 75% LTV on their 1st, with a 15% allowable seller-carryback (90% CLTV), and then up to 3% seller credits toward closing costs too. they offer 30 year fixed rates, however, due to the added risk for the lender, the rates are going to be much higher than the traditional DSCR loan.

Quitclaim DeedThis deed has traditionally been only used to cure defects in title -- like when a grandson may have inherited at 1/335 share in a property, but no one is really sure whether that's true, and a buyer has come along and needs to get the signatures of all the possible heirs before being secure in his title.